On H4,
1. There's a break and a retest.
2. The candle that has retested the previous support as a resistance is forming a Kangaroo Tail.
3.The upper part of the downward channel is been tested
On H1,
1. There's a mini-divergence on the stochastic
2. It's the start of the second wave in the trend
A sell stop at 0.96633 with TP at 0.96300, not expecting for the price to break the low of the second wave as the divergence on MACD shows a loss of momentum. SL being a pip+spread if the high of the kangaroo tail.
1. There's a break and a retest.
2. The candle that has retested the previous support as a resistance is forming a Kangaroo Tail.
3.The upper part of the downward channel is been tested
On H1,
1. There's a mini-divergence on the stochastic
2. It's the start of the second wave in the trend
A sell stop at 0.96633 with TP at 0.96300, not expecting for the price to break the low of the second wave as the divergence on MACD shows a loss of momentum. SL being a pip+spread if the high of the kangaroo tail.
Trade active
Close to the target. I am gonna move the SL to breakeven.Will take have the position off at the TP and will eye on 0.95864 for the next target if it breaks lower, considering the fib extension on -50 and a key support level.
Thanks. Happy Trading
Trade closed: target reached
Half position closed. Other half still active.Trade closed manually
Closed all positions. A profit of 60 pips at the risk of 30.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.